Video Surveillance is projected to be rewarding segment during the forecast years. Asia Pacific is likely to continue to account for the highest market size in the security and surveillance market.
Dallas, Texas, Sept. 16, 2022 (GLOBE NEWSWIRE) -- The global Security and Surveillance Market will achieve an estimated value of USD 84.91 Billion with an estimated CAGR of 9.72% through forecast year 2022-2029.
The ability to prevent illegal activities and burglary significantly drive the global security and surveillance market. Proper security and surveillance systems protect businesses from falling prey to employee theft and shoplifting. The surveillance system is capable to reduce the burden of monitoring every segment of the business and helps authorities to focus on product improvement. Businesses can prevent revenue loss due to fraud cases with the help of security systems which in turn maximizes the demand for the global security and surveillance market.
Small-scale businesses being in jeopardy of employee theft can implement efficient security and surveillance systems to safeguard business property. The availability of a good surveillance system increases customer trust in the business.
The security and surveillance market can be classified into IT security, video surveillance, workplace surveillance and smart home security concerning the types of technology used. Businesses can adopt important security measures to ensure a secure environment for customers and employees with the help of smart surveillance systems. Businesses will no more be burdened due to aspects of vandalism and intrusion. Installation of video surveillance will benefit businesses to monitor their staff workings effectively across several departments which will ensure significant productivity throughout.
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The use of video surveillance will help to have real-time access to business operations irrespective of the location. Security and surveillance system can monitor several areas hence they minimize the cost of deploying security guards and other manual security resources.
The global market has achieved greater heights owing to recent developments and innovations. On November 2021 Hikvision launched its technology-packed webcam products which are comprised of enriched in-built features to help implement quality security standards. Bosch Security launched the MIC IP fusion 9000i 9mm camera in June 2022 to help businesses attain a 36o degree view of critical work sites and dispatches real-time within a few seconds. The camera system is instilled with metadata fusion technology to accurately predict object detection and send alerts regarding abnormal activities.
On February 2022, BriefCam partnered with INSEC security to impart exponential growth to the video analysis segment using various expertise. On August 2022, AllSecure600 security kits were launched by Swann. The security systems are curated with high-definition wireless cameras and enable local data storage. The implementation of cloud storage technology with security and surveillance systems enhances the security standards thus boosting the global market.
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A significant proportion of the global market will be captured by Asia-Pacific during the forecasted period. The presence of top market players serves as a crucial factor in expanding demand for security and surveillance systems. Asia-Pacific accounts for the largest number of security systems across various government infrastructures and private businesses. The constant rising population and establishment of various malls, retail stores and public facilities drive the need for smart security systems to prevent malicious activities. The rising technology advancements have led to the discovery of seamless security systems which significantly drives the global security and surveillance market.
Important Points from Table of Contents:
2. Research Methodology
3. Market Outlook
4. Security and Surveillance Market by Technology Type, 2018-2028 (USD Billion)
4.1. Video Surveillance
4.1.1. Video Surveillance camera
4.1.2. Video surveillance as a service (VSaaS)
4.2. Smart Home Security
4.2.1. Home Monitoring/Security
4.2.2. Smart Speaker
4.2.4. Smart Doors & Locks
4.3. IT Security
4.3.1. Cloud security
4.3.2. Data security
4.3.3. Application security
4.3.4. Security services
4.3.5. Network security equipment
4.3.6. Other information security software
4.4. Workplace Surveillance
4.4.1. Employee monitoring software
4.4.2. Employee monitoring
4.4.3. Employee tracking
5. Security and Surveillance Market by End Use Type, 2018-2028 (USD Billion)
6. Security and Surveillance Market by Region 2018-2028 (USD Billion)
6.1. North America
6.2.4. Rest of Europe
6.3. Asia Pacific
6.3.3. Rest of APAC
6.4. South America
6.4.3. Rest of South America
6.5. Middle East & Africa
6.5.1. Saudi Arab
6.5.2. Rest of MEA
7. Competitive Landscape
8. Company Profiles
8.1.1. Products Portfolio
8.1.2. Recent Initiatives
8.1.3. Company Financials
8.6. Hewlett Packard Enterprise
8.9. Juniper Networks
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